Two Cohen & Steers Funds Win Performance Awards From Lipper
NEW YORK, March 27, 2017 – Cohen & Steers Real Estate Securities Fund (Class I: CSDIX) and Cohen & Steers Preferred Securities and Income Fund (Class I: CPXIX) have received 2017 Thomson Reuters Lipper Fund Awards for consistently strong risk-adjusted performance relative to their peers. Lipper’s proprietary performance-based methodology earned CSDIX the distinction for its risk-adjusted returns among funds in the Real Estate category during the 3-, 5- and 10-year periods ended December 31, 2016. CPXIX was singled out among its Flexible Income category peers for its risk-adjusted returns during the same 3- and 5-year periods.
“We are proud to once again be recognized for the industry-leading performance these funds have provided our clients,” remarked Robert Steers, Chief Executive Officer of Cohen & Steers. “These accolades reflect the success of a comprehensive, unified investment process that underlies all of our specialized asset class strategies.”
Mr. Steers added, “The ability to add value for investors through fundamental analysis and active portfolio management is the foundation of our business. While investors are gravitating to passive investments in core equity and fixed income, we believe active management in a select group of asset classes that have inefficient markets can deliver consistent value to our clients.”
Thomas Bohjalian, head of U.S. real estate securities and portfolio manager of the Cohen & Steers Real Estate Securities Fund, noted, “The Fund has benefited from the depth of knowledge our dedicated team of REIT specialists have of local property markets and individual companies, as well from as our disciplined approach to portfolio construction and risk management.”
William Scapell, director of fixed income and portfolio manager of the Cohen & Steers Preferred Securities and Income Fund, said, “We are thrilled to earn Lipper’s performance recognition. Our research-driven, active management approach and global reach in preferred securities has proven to be an effective formula for a complex market that’s undergoing massive changes.”
About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle.
Please consider the investment objectives, risks, charges and expenses of any Cohen & Steers fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained, free of charge, by visiting cohenandsteers.com or by calling 800.330.7348. Please read the summary prospectus and prospectus carefully before investing.
Data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and principal value of an investment will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Month-end performance information can be obtained on our website.
Lipper Leader Ratings for Consistent Return. Lipper Leader ratings for Consistent Return reflect funds' historic returns, adjusted for volatility, relative to peers. Ratings for consistent return are computed for all Lipper classifications with five or more distinct portfolios and span both equity and fixed-income funds. The ratings are subject to change every month and are calculated for the following time periods: 3-year, 5-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-year, 5-year, and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1.
A Lipper Leader for Consistent Return is a fund that has provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Lipper Leaders for Consistent Return may be the best fit for investors who value a fund's year-to-year consistency relative to other funds in a particular peer group.
Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors.
Cohen & Steers Real Estate Securities Fund Performance
Class A Expense Ratio as disclosed in the May 1, 2016 prospectus is 1.22%.
*Maximum 4.5% sales charge; returns for other share classes will differ due to differing expense structures and sales charges.
Cohen & Steers Real Estate Securities Fund. The Fund is subject to special risk considerations similar to those associated with the direct ownership of real estate due to its policy of concentration in the securities of real estate companies. Real estate valuations may be subject to factors such as changing general and local economic, financial, competitive and environmental conditions. The Fund is classified as a "non-diversified" fund under the federal securities laws because it can invest in fewer individual companies than a diversified fund. However, the Fund must meet certain diversification requirements under the U.S. tax laws.
Cohen & Steers Preferred Securities and Income Fund Performance
Class A Expense Ratio as disclosed in the May 1, 2016 prospectus:
Gross Expense Ratio (Class A) 1.19%
Net Expense Ratio (Class A) 1.19%
Through June 30, 2018, Cohen & Steers Capital Management, Inc., the Fund’s investment advisor (the Advisor), has contractually agreed to waive its fee and/or reimburse expenses so that the Fund’s total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses) do not exceed 1.20% for the Class A shares.
* Maximum 3.75% sales charge; returns for other share classes will differ due to differing expense structures and sales charges.
** Blended benchmark consists of 50% BofA Merrill Lynch Fixed Rate Preferred Securities Index and 50% BofA Merrill Lynch Capital Securities Index.
Cohen & Steers Preferred Securities and Income Fund. There are special risks associated with investing in the Fund. In general, the risks of investing in preferred securities are similar to those of investing in bonds, including credit risk and interest-rate risk. As nearly all preferred securities have issuer call options, call risk and reinvestment risk are also important considerations. In addition, investors face equity-like risks, such as deferral or omission of distributions, subordination to bonds and other more senior debt, and higher corporate governance risks with limited voting rights. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. The Fund may invest in below-investment grade securities. Below-investment-grade securities or equivalent unrated securities generally involve greater volatility of price and risk of loss of income and principal, and may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities.
SOURCE: Cohen & Steers, Inc.
CONTACT: Martha Shapiro, Senior Vice President
Director of Marketing & Communications
Cohen & Steers, Inc.
Tel: (212) 832-3232
Symbol: NYSE: CNS
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